ORGANISATION OF MUTUAL FUND:

FTHE STRUCTURE CONSISTS OF: SPONSOR Sponsor is the person who acting
alone or in combination with another body corporate establishes a mutual fund.
Sponsor must contribute at least 40% of the net worth of the
1. Investment managed and meet the eligibility criteria prescribed under the
Securities and Exchange Board of India (Mutual Fund) Regulations, 1996. The
sponsor is not responsible or liable for any loss or shortfall resulting from the
operation of the Schemes beyond the initial contribution made by it towards
setting up of the Mutual Fund. TRUST The Mutual Fund is constituted as a trust in
accordance with the provisions of the Indian Trusts Act, 1882 by the Sponsor. The
trust deed is registered under the Indian Registration Act, 1908. TRUSTEE
Trustee is usually a company (corporate body) or a Board of Trustees (body of
individuals). The main responsibility of the Trustee is to safeguard the interest of
the unit holders and ensure that the AMC functions in the interest of investors and
in accordance with the Securities and Exchange Board of India (Mutual Funds)
Regulations, 1996, the provisions of the Trust Deed and the Offer Documents of
the respective Schemes. At least 2/3rd directors of the Trustee are independent
directors who are not associated with the Sponsor in any manner. ASSET
MANAGEMENT COMPANY (AMC) The AMC is appointed by the Trustee as the
Investment Manager of the Mutual Fund. The AMC is required to be approved by
the Securities and Exchange Board of India (SEBI) to act as an asset
management company of the Mutual Fund. At least 50% of the directors of the
AMC are independent directors who are not associated with the Sponsor in any
manner. The AMC must have a net worth of at least 10 cores at all times.
REGISTRAR AND TRANSFER AGENT The AMC if so authorized by the Trust
Deed appoints the Registrar and Transfer Agent to the Mutual Fund. The
Registrar processes the application form, redemption requests and dispatches
account statements to the unit holders. The Registrar and Transfer agent also
handles communications with investors and updates investor records.
2. ASSET UNDER MANAGEMENT: Table1.4 ASSET UNDER MANAGEMENT OF
TOP AMC,S as on Jun 30, 2009 Mutual Fund Name No. of schemes Corpus
(Rs.Crores) Reliance Mutual Fund 263 108,332.36 HDFC Mutual Fund 202
78,197.90 ICICI Prudential Mutual Fund 325 70,169.46 UTI Mutual Fund 207
67,978.19 Birla Sun Life Mutual Fund 283 56,282.87 SBI Mutual Fund 130
34,061.04 LIC Mutual Fund 70 32,414.92 Kotak Mahindra Mutual Fund 124
30,833.02 Franklin Templeton Mutual Fund 191 25,472.85 IDFC Mutual Fund 164
21,676.29 Tata Mutual Fund 175 21,222.81 The graph indicates the growth of
assets over the years.

2. Type and classification of service and its volum

It's important to understand that each mutual fund has different risks and
rewards. In general, the higher the potential return, the higher the risk of loss.
Although some funds are less risky than others, all funds have some level of risk
- it's never possible to diversify away all risk. This is a fact for all investments.

Each fund has a predetermined investment objective that tailors the fund's
assets, regions of investments and investment strategies. At the fundamental
level, there are three varieties of mutual funds:

1) Equity funds (stocks)

2) Fixed-income funds (bonds)
3) Money market funds

All mutual funds are variations of these three asset classes. For example, while
equity funds that invest in fast-growing companies are known as growth funds,
equity funds that invest only in companies of the same sector or region are
known as specialty funds.

Let's go over the many different flavors of funds. We'll start with the safest and
then work through to the more risky.

Money Market Funds

The money market consists of short-term debt instruments, mostly Treasury bills.
This is a safe place to park your money. You won't get great returns, but you
won't have to worry about losing your principal. A typical return is twice the
amount you would earn in a regular checking/savings account and a little less
than the average certificate of deposit (CD).

Bond/Income Funds
Income funds are named appropriately: their purpose is to provide current income
on a steady basis. When referring to mutual funds, the terms "fixed-income,"
"bond," and "income" are synonymous. These terms denote funds that invest
primarily in government and corporate debt. While fund holdings may appreciate
in value, the primary objective of these funds is to provide a steady cashflow to
investors. As such, the audience for these funds consists of conservative
investors and retirees. (Learn more inIncome Funds 101.)

Bond funds are likely to pay higher returns than certificates of deposit and money
market investments, but bond funds aren't without risk. Because there are many
different types of bonds, bond funds can vary dramatically depending on where
they invest. For example, a fund specializing in high-yield junk bonds is much
more risky than a fund that invests in government securities. Furthermore, nearly
all bond funds are subject to interest rate risk, which means that if rates go up the
value of the fund goes down.

Balanced Funds
The objective of these funds is to provide a balanced mixture of safety, income
and capital appreciation. The strategy of balanced funds is to invest in a
combination of fixed income and equities. A typical balanced fund might have a
weighting of 60% equity and 40% fixed income. The weighting might also be
restricted to a specified maximum or minimum for each asset class.
A similar type of fund is known as an asset allocation fund. Objectives are similar
to those of a balanced fund, but these kinds of funds typically do not have to hold
a specified percentage of any asset class. The portfolio manager is therefore
given freedom to switch the ratio of asset classes as the economy moves through
the business cycle.

Equity Funds
Funds that invest in stocks represent the largest category of mutual funds.
Generally, the investment objective of this class of funds is long-term capital
growth with some income. There are, however, many different types of equity
funds because there are many different types of equities. A great way to
understand the universe of equity funds is to use a style box, an example of
which is below.

The idea is to classify funds based on both the size of the companies invested in
and the investment style of the manager. The term value refers to a style of
investing that looks for high quality companies that are out of favor with the
market. These companies are characterized by low P/E and price-to-book
ratios and high dividend yields. The opposite of value is growth, which refers to
companies that have had (and are expected to continue to have) strong growth in
earnings, sales and cash flow. A compromise between value and growth is blend,
which simply refers to companies that are neither value nor growth stocks and
are classified as being somewhere in the middle.

For example, a mutual fund that invests in large-cap companies that are in strong
financial shape but have recently seen their share prices fall would be placed in
the upper left quadrant of the style box (large and value). The opposite of this
would be a fund that invests in startup technology companies with excellent
growth prospects. Such a mutual fund would reside in the bottom right quadrant
(small and growth). (For further reading, check out Understanding The Mutual
Fund Style Box.)

Global/International Funds
An international fund (or foreign fund) invests only outside your home country.
Global funds invest anywhere around the world, including your home country.

It's tough to classify these funds as either riskier or safer than domestic
investments. They do tend to be more volatile and have
unique country and/or political risks. But, on the flip side, they can, as part of a
well-balanced portfolio, actually reduce risk by increasing diversification. Although
the world's economies are becoming more inter-related, it is likely that another
economy somewhere is outperforming the economy of your home country.
Specialty Funds
This classification of mutual funds is more of an all-encompassing category that
consists of funds that have proved to be popular but don't necessarily belong to
the categories we've described so far. This type of mutual fund forgoes broad
diversification to concentrate on a certain segment of the economy.

Sector funds are targeted at specific sectors of the economy such as financial,
technology, health, etc. Sector funds are extremely volatile. There is a greater
possibility of big gains, but you have to accept that your sector may tank.

Regional funds make it easier to focus on a specific area of the world. This may
mean focusing on a region (say Latin America) or an individual country (for
example, only Brazil). An advantage of these funds is that they make it easier to
buy stock in foreign countries, which is otherwise difficult and expensive. Just like
for sector funds, you have to accept the high risk of loss, which occurs if the
region goes into a bad recession.

Socially-responsible funds (or ethical funds) invest only in companies that meet
the criteria of certain guidelines or beliefs. Most socially responsible funds don't
invest in industries such as tobacco, alcoholic beverages, weapons or nuclear
power. The idea is to get a competitive performance while still maintaining a
healthy conscience.

Index Funds
The last but certainly not the least important are index funds. This type of mutual
fund replicates the performance of a broad market index such as the S&P
500 or Dow Jones Industrial Average (DJIA). An investor in an index fund figures
that most managers can't beat the market. An index fund merely replicates the
market return and benefits investors in the form of low fees.

3.Details of competiors

1.SBI mutual fund

With 28 years of rich experience in fund management, we at SBI Funds Management

Pvt. Ltd. bring forward our expertise by consistently delivering value to our investors. We
have a strong and proud lineage that traces back to the State Bank of India (SBI) - India's
largest bank. We are a Joint Venture between SBI and AMUNDI (France), one of the
world's leading fund management companies.

With our network of over 222 points of acceptance across India, we deliver value and
nurture the trust of our vast and varied family of investors.
Excellence has no substitute. And to ensure excellence right from the first stage of
product development to the post-investment stage, we are ably guided by our philosophy
of growth through innovation and our stable investment policies. This dedication is what
helps our customers achieve their financial objectives.

Mutual Funds
Investors are our priority. Our mission has been to establish Mutual Funds as a viable
investment option to the masses in the country. Working towards it, we developed
innovative, need-specific products and educated the investors about the added benefits
of investing in capital markets via Mutual Funds.

Today, we have been actively managing our investor's assets not only through our
investment expertise in domestic mutual funds, but also offshore funds and portfolio
management advisory services for institutional investors.

This makes us one of the largest investment management firms in India, managing
investment mandates of over 5.4 million investors.

2.Fundsindia

At FundsIndia, we bring together cutting-edge technology and top-notch

financial services in one powerful package. Our online-only investment
platform is built on robust technology that enables you to easily invest in
mutual funds from leading fund houses in India, corporate fixed deposits,
stocks from the BSE and various other investment products. Our expert
financial advisors constantly track the markets and analyse trends to give you
the best advice to manage your financial portfolio. We complement good
advice with a powerful online platform and mobile app that allows you to view
and manage your investments with ease. With Money Mitr, FundsIndias robo
advisory service, you get instant fund recommendations that are personalized
for you, based on your profile, in a matter of few minutes.
FundsIndia has earned the trust of over 8 lakh users by providing them award
winning investment services and expert financial advice, free of cost. Join us
and begin your investment journey today.

3. RELIANCE MUTUAL FUND

Reliance Mutual Fund (RMF) has been established as a trust under the
Indian Trusts Act, 1882 with Reliance Capital Limited (RCL), as the
Settler/Sponsor and Reliance Capital Trustee Co. Limited (RCTC), as
the Trustee.

Reliance Mutual Fund has been registered with the Securities &
Exchange Board of India (SEBI) vide registration number MF/022/95/1
dated June 30, 1995. The name of Reliance Capital Mutual Fund was
changed to Reliance Mutual Fund effective March 11,2004 vide SEBI's
letter no. IMD/PSP/4958/2004 dated March 11,2004. RMF was formed
to launch various schemes under which units are issued to the public
with a view to contribute to the capital market and to provide investors
the opportunities to make investments in diversified securities.

Reliance Mutual Fund (RMF) is one of India's leading mutual funds, with
Average Assets Under Management (AAUM) of ` 1,95,845 Crores
(October 2016 - December 2016 Quarter Q3) and 64.67 lakhs folios (as
on 31st December 2016). To know more details about the AUM,
please click here.

Reliance Mutual Fund, a part of the Reliance Anil Dhirubhai Ambani

(ADA) Group, is one of the fastest growing mutual funds in India. RMF
offers investors a well-rounded portfolio of products to meet varying
investor requirements and has presence in 160 cities across the
country. RMF constantly endeavours to launch innovative products and
customer service initiatives to increase value to investors.

4.Hartford fund
AtWe believe that human-centric investing can create
products and advisor tools that not only strengthen bottom
lines, but strengthen advisor-client relationships by helping
investors better realize their true life goals.

Hartford Funds has $77.9 billion total assets under

management as of September 30, 2016 (excluding assets
used in certain annuity products). As of October 24, 2016,
our line-up includes more than 55 mutual funds in a variety
of styles and asset classes and five strategic beta ETFs. Our
mutual funds (with the exception of certain fund of funds)
are primarily sub-advised by Wellington Management
Company LLP or Schroder Investment Management North
America Inc., two institutional managers with comprehensive
global investment capabilities. The strategic beta ETFs
offered by Hartford Funds are designed to help address
investors' evolving needs by leveraging a distinct risk-
optimized approach, which identifies risks within each asset
class and then deliberately and systematically re-allocates
capital toward risks more likely to enhance return potential.

No matter the asset class or type of fund, Hartford Funds will

always strive to meet or exceed traditional industry
benchmarks, but through human-centric investing, we
intend to also raise the bar on performance, and make it
mean more than numbers alone.

5as f

5.IDBI mutual

Mission
To promote financial inclusion, by assisting the common man in making

informed investment choices, through mutual funds and thus bring to him, the

prosperity of the capital markets.

 IDBI Asset Management Ltd

Sponsored by IDBI Bank, the IDBI Asset Management Limited was

incorporated under the Companies Act, 1956 on 25th January 2010. (IDBI AMC

Corporate Identification No: U65100MH2010PLC199319)

The registered office of IDBI Asset Management Ltd. is situated at IDBI Tower,

WTC Complex, Cuffe parade Colaba, Mumbai - 400 005. & Corporate Office of

IDBI Asset Management Ltd. is at 5th Floor, Mafatlal Centre, Nariman Point,

Mumbai - 400 021.

The Trustee Company has appointed IDBI Asset Management Limited to

manage the Mutual Fund.

IDBI MF Trustee Company Ltd.

IDBI MF Trustee Company Limited, incorporated on 25th January, 2010 under

the Companies Act, 1956, is the Trustee to the IDBI Mutual Fund. (IDBI MF

Trustee Corporate Identification No: U65991MH2010PLC199326)

The registered office of IDBI MF Trustee Company Ltd. is situated at IDBI

Tower, WTC Complex, Cuffe parade Colaba, Mumbai 400 005.

6.TATA Capital

Tata Mutual Fund

We constantly benchmark our efforts against the following tenets of
performance:

Consistency
We strive to deliver consistent results through our value-based investing
methodology, keeping alive the belief of the late doyen of the Tata Group, Mr.
J.R.D. Tata, that money received from the people should go back to them
several times over.
Flexibility
We offer a broad range of investment products across various asset classes
with varying risk parameters that cater to needs of different customer
segments. We also provide our customers with operational flexibility to suit
their different investment needs
Stability
Our commitment to the highest quality of service and our intense focus on
integrity is a key aspect of our business which has earned us the trust of our
customers.
Services
We offer a wide range of services keeping in mind the challenges faced by the
investors with the aim to provide them a fulfilling and rewarding investing
experience with us.

7.ICICI Prudential mutual fund

ICICI Bank is India's largest private sector bank with total assets of Rs. 7,206.95 billion (US$ 109 billion)
at March 31, 2016 and profit after tax Rs. 97.26 billion (US$ 1,468 million) for the year ended March 31,
2016. ICICI Bank currently has a network of 4,608 Branches and 14,052 ATM's across India.

Prudential plc is an international financial services group with significant operations in Asia, US and the
UK. The company serves more than 24 million insurance customers and has 599 billion of assets
under management (as at 31 December 2016).

Prudential Corporation Asia (PCA)

Prudential is a leading life insurer that spans 13 markets in Asia, covering Cambodia, China, Hong
Kong, India, Indonesia, Korea, Laos, Malaysia, the Philippines, Singapore, Taiwan, Thailand and
Vietnam. Prudential has a robust multi-channel distribution platform providing a comprehensive range of
savings, investment and protection products.

Eastspring Investments manages investments across Asia on behalf of a wide range of retail and
institutional investors, with about half of its assets sourced from life and pension products sold by
Prudential plc. It is one of the regions largest asset managers with a presence in 10 major Asian
markets as well as distribution offices in the US and Europe. It has 104.9 billion in assets under
management (as at 30 June 2016), managing funds across a range of asset classes including equities
and fixed income.

Jackson National Life Insurance Company

Jackson is one of the largest life insurance companies in the US, providing retirement savings and
income solutions with more than 2.9 million policies and contracts in force. Jackson is also one of the
top three providers of variable annuities in the US. Founded 50 years ago, Jackson has a long and
successful record of providing advisers with the products, tools and support to design effective
retirement solutions for their clients.

Prudential UK & Europe (PUE)

Prudential UK is a leading life and pensions provider to approximately 6 million customers in the United
Kingdom. Their expertise in areas such as longevity, risk management and multi-asset investment,
together with our financial strength and highly respected brand, means that the business is strongly
positioned to continue pursuing a value-driven strategy built around our core strengths in with-profits
and annuities.

M&G
M&G is Prudential's UK and European fund management business with total assets under management
in excess of 255.4 bn (as at 30 June 2016). M&G has been investing money for individual and
institutional clients for over 80 years. Today it is one of Europe's largest active investment managers as
well as being a powerhouse in fixed income.
Birla SL Frontline Equity (G)

4. Customer segmentation and target market

5.Price strategies in a vertically differentiated mutual

fund market
Highlights
Market model with two vertically differentiated mutual funds.

Investors are assumed to be all non-sophisticated.

Low and high quality mutual funds propose the same price.

High quality mutual fund is compelled to suggest a suboptimal price.

There exists an incentive for the high quality fund to provide quality.

Several academic studies show that mutual funds set their prices in a
strategic way according to their level of quality. This study examines a
market in which two vertically differentiated mutual funds compete.
Their price strategies are determined for the cases with complete and
incomplete information. Our results show that mutual funds prefer to
set their prices sequentially and that they are then indifferent to being
the first or the second mover. With incomplete information, the
presence of a lower quality mutual fund compels the high quality
mutual fund to set lower prices at small levels of quality difference.

USP

May we know their USP?

New schemes make such a song and dance about their unique mandate and
stock-picking strategy. But why are mandates of older schemes so vaguely
defined?
When friends or relatives ask me about which mutual funds they should buy,
the conversation often goes like this.

Uncle: I am very keen on Indian companies with global flavour. Can I buy
Magnum Global Fund?
Me: Err... Magnum Global actually doesn't invest in global companies. It is a
decent mid-cap fund
Uncle: Oh! Can you suggest a value fund, which only picks stocks which are
still cheap in this market?
Me: ICICI Prudential Value Discovery or Templeton India Growth Fund are
good choices.
Uncle: But is a growth fund also a value fund? I thought they were very
different?
Me: No....ahem, this is a value fund. Don't mind its label.

You get the idea. In India, the adage that you shouldn't judge a book by its
cover applies quite well to mutual funds schemes too. You can't judge a
scheme by its name. Quite often, you'll find a 'bluechip' equity fund merrily
investing in mid-cap stocks, or a 'contra' fund loading up on momentum
stocks.

And it's not just equity funds which have mismatched names and mandates.
Debt funds do too. Until recently, the top rated ICICI Pru Long Term Debt
Fund maintained quite a short duration on its portfolio.

Vague mandates
Of course, misnamed funds are just one part of the problem. Dozens of
schemes with generic or vague labels - take 'growth' funds, 'opportunities'
funds, 'multicap' funds and 'long term advantage' funds for instance - are even
more difficult for investors to decipher, because their mandates can keep
changing. They can be large-cap schemes one month and mid-cap ones in
another. They may chase high PE stocks one year and dividend yield stocks in
another.

Now, this wouldn't be a problem at all for investors if all fund houses only
offered a few simple products - one diversified equity fund, one fixed income
fund and one balanced fund. Then, investors could simply decide on their
asset allocation between equity and debt and buy the funds with the best track
record.
But the fund industry has not chosen to keep it this simple. It is constantly
adding to the long line-up of schemes by launching more and more funds
playing on every possible niche, nuance and sub-theme in the market. At the
time of the NFO, fund houses make a song and dance about a scheme's USP-
its unique mandate, investment style and stock picking strategy.

Every NFO pitch is usually accompanied by a glossy product note, a multi-

page presentation discussing the possible universe and investment philosophy
of the scheme, the fund manager's credo and even 'back-testing' data showing
how the strategy has delivered momentous results in the last five or ten years.
But for an investor looking to understand the USP of an older open end fund,
there's a complete drought of information.

If you are able to wade through the 60-70 page scheme information
document, you'll find 55 pages of repetitive and largely worthless information
that can apply to any scheme. The five pages that do discuss the scheme's
strategy will usually describe it in such vague and sweeping terms that you get
the impression that the manager can pretty much do anything under the sun.

The monthly factsheets put out by most fund houses leave you no wiser. Most
equity schemes have the mandate to 'invest in equity and equity related
securities to generate long term capital appreciation'. And debt products
would like to 'invest in a mix of debt and money market instruments for an
optimum balance between returns, safety and liquidity'.

Now, it is only when you have an actual chat with the fund manager of a
particular scheme that you actually get to understand its USP. He will tell you
if it is a growth style fund or a value one, a multicap fund or a large and mid-
cap one, or a debt fund that plays on either duration or credit.

Given that every retail investor looking to choose an older fund for his
portfolio cannot be calling up the portfolio manager, he is likely to have quite
a hard time deciding whether a scheme's return and risk characteristics are
indeed suitable to him. Imagine a 50-year old investor who wants to buy an
equity scheme. He may want a scheme with a 70:30 allocation between large
and mid-cap stocks and there are many such schemes available in the market.
But can he gauge this easily from the latest factsheet or scheme literature?
Mostly not.

Apart from creating problems for new investors, vaguely defined mandates
also result in some schemes constantly changing their market-cap or risk
preferences with market moods. So, a scheme which preferred to invest 70 per
cent of its portfolio in large-cap stocks in the sideways market until 2013 may
suddenly load up on micro-caps and show splendid returns in the 2014 bull
market. A new investor may be taken in by the recent returns, but he should
know that the scheme's previous track record is no longer relevant. The
person who bought it in 2013 believing it to be a large-cap fund should
probably be selling it, following this change in risk profile.

As the fund industry tries to peddle increasingly sophisticated NFOs to

investors, it should also work at defining the mandates for its older schemes
more precisely. Equity schemes should set out their market-cap, style (value
or growth) and risk bias, not only during the NFO, but also on an ongoing
basis. Debt schemes need to commit to the issuer (government versus
corporate), duration (long versus short) and credit profile of their portfolios.
And having laid down such mandates they also need to diligently stick to
them.

If the flexibility to drift freely between all kinds of stocks and bonds is what
fund managers want, to deliver good performance, it would be best for fund
houses to shelve all these NFOs and stick to just one diversified equity, debt
and balanced scheme each. That would make life for investors (and advisors)
far easier.

6. Distributition network

DISTRIBUTOR CORNER
HDFC Mutual Fund is one of the largest mutual funds in India with an
investor base of over 25 lakh which is serviced primarily by our vide
network of distributors. We at HDFC Mutual Fund recognize our
distributors as the most important link between our investors and
us. To help distributors to advise and service their clients better, we,
together with our registrar (CAMS) offer a range of facilities to
them.

Who can be a distributor?

Any of the following entities can become a distributor of the
products of mutual funds by obtaining an ARN code from the
Association of Mutual Funds in India (AMFI) and empanelling as
 distributor with us: Individuals, sole proprietorships, partnership
firms, companies, societies, co-operatives and trusts.

To associate with HDFC Mutual Fund, a distributor has to empanel

with us. For empanelling as a distributor with the AMC, the
distributor has to submit a duly completed Distributor Empanelment
Form along with the following documents to any of our Investor
Service Centres (ISCs) :

Category of distributor Documents required in addition to the Distributor Empanelment Form

Individual Self-attested copy of the ARN card of the individual

Sole Proprietorship Self-attested copy of the ARN certificate of the Sole Proprietorship

Letter stating the name(s) of the person(s) who will be distributing the products of mutual funds

Self-attested copy of the ARN card of such person(s)

Partnership Firm Self-attested copy of the ARN certificate of the Partnership Firm

Self-attested copy of the Partnership Deed

Self-attested copy of the Authorised Signatories List of the partnership firm

Company Self-attested copy of the ARN certificate of the company

Self-attested copy of the Memorandum and Articles of Association of the company

List of authorised signatories with their signatures

Self-attested copy of the Board Resolution authorizing the company to undertake distribution of mut
Managing Director / CEO / Authorised Persons on the companys letter-head addressed to HDFC A

Self-attested copy of the Authorised Signatories List of the company

A one-time certificate stating that all their employees engaged in distribution of the products of mutu
photo-identity card

Society, Co-operative or Trust Self-attested copy of the Trust Deed / Letter of Incorporation / formation documents, as applicable

Self-attested copy of the ARN certificate of the Society, Co-operative or Trust

 Self-attested copy of the Authorised Signatories List of the Society, Co-operative or Trust

A one-time certificate stating that all their employees engaged in distribution of the products of mutu
obtained their photo-identity card

7.Comparison of 4ps with competition.

Produts
Equity/ Growth fund
Debt/Income fund
Liquid funds
Childrens Gift fund
Retirement Savings fund
Fixed Maturity Fund
Exachage traded Funds
Rajiv Gandhi Equity savings scheme
Dual advantage fund
Capital protection oriented schemes
Fund of fund schemes
Annual interval fund
Cancer cure fund

Promotion

It promotes through various banks and there branches by having a separate counter. it
also promotes through hording , pamphlets and various sort advertisement
Price

Net Asset Value is the worth, in market terms, for each unit of the
fund. It is calculated as the market value of all investments in the
fund less liabilities and expenses divided by the outstanding number
of units in the fund. Most schemes announce their NAVs on a daily
basis.

If the applicable NAV is Rs. 10.00 and the exit/redemption load is

1%, then the Repurchase Price will be Rs. 9.90.

place

PLACE HDFC Asset Management Company Ltd (AMC) was incorporated under the
Companies Act, 1956, on December 10, 1999, and was approved to act as an Asset
Management Company for the HDFC Mutual Fund by SEBI vide its letter dated July 3,
2000. The registered office of the AMC is situated at Ramon House, 3rd Floor, H.T.
Parekh Marg, 169, Backbay Reclamation, Churchgate, Mumbai - 400 020.
8.study on generic level of competitors

1. 1.5 INVESTMENT STRATEGIES

2. Systematic Investment Plan: Under this, a fixed sum is invested each month on a
fixed date of a month. Payment is made through post-dated cheques or direct
debit facilities. The investor gets fewer units when the NAV is high and more units
when the NAV is low. This is called as the benefit of Rupee Cost Averaging (RCA)
2. Systematic Transfer Plan: Under this, an investor invest in debt-oriented fund
and give instructions to transfer a fixed sum, at a fixed interval, to an equity
scheme of the same mutual fund. 3. Systematic Withdrawal Plan: if someone
wishes to withdraw from a mutual fund then he can withdraw a fixed amount each
month.

8.Study of generic level of competition

Measuring Competition

Here we have estimated the four firm concentration ratios for mutual funds by
taking the market share of four large firms. The ratio depicted in Table 2 has
shown a decline over the years. It was 51 in 2003 and declined to 41 in 2006.
The estimated concentration ratio shows decline and this indicates that the
competition has increased in the mutual fund industry. It also reveals that, over
the years the four large firms still continue to have high market share.

Table 2: Four-Firm Concentration Ratio

Four - Firm Concentration Ratio

Year 2003 2004 2005 2006

Concentration Ratio 51.0 43.9 41.6 41.0

Source: Authors own Calculation

This conventional measure takes in to account only information about the

industrys leading firms. Therefore we have calculated Herfindahl-
Hirschman index (HHI) (which is a better measure of industry concentration
because it is based upon the information about all firms in the industry) to
measure concentration in the mutual funds for 35 funds by using their market
shares (assets as percent of total assets) for the year 2003 to 2006. The HHI is
calculated by summing the squared market shares of all funds in the market. It
ranges on a scale from 0 to 10, 000. The larger the HHI, the more concentrated is
the industry or market. An industry with an HHI greater than 1800 is a highly
concentrated one. Also an industry with the value of HHI between 1000 and 1800
is moderately concentrated one and one with HHI less than 1000 is
unconcentrated

9.Forecasting and sales plan preparation

Forcasting and sales plans

Systematic Investment Plan (SIP)
Dreams can only be achieved if you work towards them. Even building wealth is no
different. A Systematic Investment Plan (SIP) helps you do just that. With SIP, you can
invest a fixed amount in mutual funds step-by-step monthly or quarterly over a period of
time, thereby averaging out your cost of investing and benefiting from the power of
compounding. The power of compounding works best as you stay invested helping your
money earn money over the years. After all, it is the time in the market and not timing
the market that helps you create wealth for your dreams in life. So, dream more and
achieve much more. Start investing through a SIP today and work towards achieving your
dreams.

How SIP works?

SIP is a method of investing a fixed sum, regularly, in a mutual fund scheme. SIP allows
one to buy units on a given date each month, so that one can implement a saving plan for
themselves. The biggest advantage of SIP is that one need not time the market. In timing
the market, one can miss the larger rally and may stay out while markets were doing well
or may enter at a wrong time when either valuation have peaked or markets are on the
verge of declining. Rather than timing the market, investing every month will ensure that
one is invested at the high and the low, and make the best out of an opportunity that
could be tough to predict in advance.

An investor can invest a pre-determined fixed amount in a scheme every month or

quarterly, depending on his convenience through post-dated cheques or through ECS
(auto-debit) facility. Investors need to fill up an Application form and SIP mandate form on
which they need to indicate their choice for the SIP date (on which the amount will be
invested). Subsequent SIPs will be auto-debited through a standing instruction given or
post-dated cheques. The forms and cheques can be submitted to the office of the Mutual
Fund / Investor ServiceCentre or nearest service centre of the Registrar & Transfer Agent.
The amount is invested at the closing Net Asset Value (NAV) of the date of realisation of
the cheque.

In short - Why SIP?

Disciplined approach to investments

No need to time the market

Harness the power of two powerful Investment strategies:

Rupee Cost Averaging - Benefit from Volatility

 Power of Compounding - Small investments create Big Kitty over time

Lighter on the wallet

Reap benefits of starting early

Secret to achieving MuchMore with SIP

List down your dreams and goals and work out a plan to achieve them through SIP
Ascertain the monthly/quarterly SIP required to achieve your goals
Identify the scheme(s) in which you would like to invest and complete the formalities
for SIP investment including forms and cheques
Invest for the long term as the twin benefits of power of compounding and rupee-cost
averaging work through different market cycles
Diversify your investments for your dreams through multiple SIPs in different schemes
to optimise returns as per your needs

10.pricing policy

The easiest way to find out the price of a mutual fund is to look at
its net asset value (NAV). NAV is the total value of a mutual fund's
assets, less all of its liabilities. Many mutual funds use this number to
determine the price for transacting units of the fund. When you buy and
sell mutual funds, you typically do so at the NAV.

For most mutual funds, the NAV is calculated daily since a mutual
fund's portfolio consists of many different stocks. As each one of these
stocks may be changing in price frequently throughout the day, an exact
value of a mutual fund is difficult to determine. Thus, mutual fund
companies have chosen to value their portfolio once daily, and each day
this is the price at which investors must buy and sell the mutual fund.
The exact valuation technique may vary from fund to fund as some may
use an average of the last three traded prices. All mutual funds,
however, set a valuation of their NAV once a day.

In the case of an exchange-traded fund (ETF), which is an index

fund that trades like a stock, the NAV is first determined when the fund
is created, and then market forces determine the price of the shares of
the fund. Typically, the NAV of an ETF will be relatively close to
 the market price of the fund; however, there may be instances when the
price is higher or lower than the NAV.

11. Promotion and advertising policy

ADVERTISEMENT CODE

(a) Advertisements shall be accurate, true, fair, clear, complete, unambiguous

and concise.

(b) Advertisements shall not contain statements which are false, misleading,
biased or deceptive, based on assumption/projections and shall not contain
any testimonials or any ranking based on any criteria.

(c) Advertisements shall not be so designed as likely to be misunderstood or

likely to disguise the significance of any statement. Advertisements shall not
contain statements which directly or by implication or by omission may
mislead the investor.

(d) Advertisements shall not carry any slogan that is exaggerated or unwarranted
or slogan that is inconsistent with or unrelated to the nature and risk and
return profile of the product.

(e) No celebrities shall form part of the advertisement.

(f) Advertisements shall not be so framed as to exploit the lack of experience or

knowledge of the investors. Extensive use of technical or legal terminology or
complex language and the inclusion of excessive details which may detract the
investors should be avoided.

(g) Advertisements shall contain information which is timely and consistent with
the disclosures made in the Scheme Information Document, Statement of
Additional Information and the Key Information Memorandum.

(h) No advertisement shall directly or indirectly discredit other advertisements or

make unfair comparisons.
(i) Advertisements shall be accompanied by a standard warning in legible fonts
which states Mutual Fund investments are subject to market risks, read all
scheme related documents carefully. No addition or deletion of words shall
be made to the standard warning.

In audiovisual media based advertisements, the standard warning in visual

and accompanying voice over reiteration shall be audible in a clear and
understandable manner. For example, in standard warning both the visual
and the voice over reiteration containing 14 words running for at least 5
seconds may be considered as clear and uderstanbale.

12.Strategies for brand management

3 Strategies for Simple Mutual Fund Investing
1. Buy on a Schedule
Do you invest in a 401(k) plan each month? Then, even if youve never heard
the term dollar-cost averaging, youre using this smart strategy to make
yourself rich. Its especially well-suited for funds.

When you dollar-cost average, you invest a set amount of money on a regular
basis, regardless of whether prices are up or down. This approach forces you to
buy more of a security when its cheap. How so? If youre investing $1,000 a
month, in months when prices have fallen youll buy more shares of a fund or a
stock. When a particular security rises in price, the same $1,000 buys fewer
shares. Over time, your costs average out (the logic behind the term) but you
get additional shares when prices have fallen.

Investing regularly has important psychological benefits. When stock prices in

particular are downthat is, when stocks are on salethe air is thick with
gloom and investors are often reluctant to buy, sale or no sale. And if you use
an averaging strategy with a lump sum, it prevents you from investing all of
your money at once at what could turn out to be an inopportune moment. If you
see the value of your assets plunge, you could be tempted to sell at a loss and
vow never to invest again.
2. Index to Cut Costs
Not everyone loves the notion of poring over corporate balance sheets to
find good investments. And thanks to index funds, you dont need to.
Index funds buy every stock or bond thats part of a given index and
hold those assets indefinitely.

Because an index fund doesnt have to pay managers and analysts to

study securities, the funds are cheap. The typical domestic index fund
charges just 0.71% of assets in fees each year (and some charge less than
0.1%), compared with 1.41% for the average actively managed U.S. stock
fund, according to Morningstar. And because the funds do little buying
and selling, trading costs are low, too.

Primarily because of their expense advantage, the performance of index

funds is competitive with the best actively managed mutual funds. In
fact, over the long haul, index funds beat most comparable actively run
funds, although managed funds prevail from time to time.

You can find index funds for nearly every category of stock and bond.
Youll find index funds in both the mutual fund format and among
exchange-traded funds. Just pick the index you want to mirror and buy
the cheapest fund that copies that benchmark.

To be sure, a few actively managed funds consistently outperform the

rest. The Kiplinger 25 includes actively managed funds that we think are
good enough to overcome their expense disadvantage and outpace their
index rivals over the long term. But if you dont want to monitor
managers and prefer to spend a minimal amount of time selecting
funds, then youll love index funds.

3. Pick Your Target

If you crave simplicity, youll love target-date funds. Used primarily for
retirement accounts, target funds divvy up your assets among stocks,
bonds, cash and, sometimes, commodities based solely on the date that
youre likely to need your money.

Because you probably have more than one goal, you shouldnt consider a
target fund to be a one-fund answer to all of your investment needs.
Your portfolio should also include a cash account for your emergency
money, and maybe a 529 plan for college savings. If you have other
near-term goals, such as buying a house or a car, youll need to set aside
money in appropriate investments for those goals, too. But for
retirement savings, a target fund can be a simple, set-it-and-forget-it
option.
Where should you go for target funds? We like the offerings of all three
of the nations biggest no-load fund companiesFidelity, T. Rowe Price
and Vanguard. But each approaches asset allocation somewhat
differently.

Price is the most aggressive, holding roughly 55% of assets in stocks at

the target date. The reason: Price managers think the biggest risk to
investors isnt market volatility but rather the chance that you might run
out of money before you run out of breath. Price believes that growth
investmentsnamely, stocksare more likely than income investments
to beat the rate of inflation over time, so these funds remain relatively
stock-heavyabout 30% to 40% of the portfoliothroughout
retirement. Vanguard and Fidelity both have about half of their target
funds assets in stocks at retirement, but both shift you into bond-heavy
income funds after a set number of years post-retirementseven in the
case of Vanguard, 15 in the case of Fidelity.

The right mix for you will depend on your investment style. If youre
conservative, pick Vanguard; if youre aggressive, choose Price; if youre
in the middle, go with Fidelity.

13.Taxes applicable on sales activity

Mutual Fund Taxation in India

There are very few things in this world which are both Legal &
Lethal. TAX is one of them. If not understood or paid in a proper way, it is
enough to give you hypertension which is one of the most common reasons for
a heart stroke. See, I made you look gloomy and stressful. Hence it is very
important to have elementary knowledge of Tax Provisions.
I believe most of the readers are new to the Mutual Funds so they will have
many queries on taxation of Mutual Funds. So, here is an attempt to
cover Mutual Fund Taxation for individuals, HUF & NRIs.

Income from Mutual Fund can be divided into 2 parts Capital Gain (increase
in value of your investment) or dividends that investors receive on regular
intervals if they have opted for dividend plans. So taxation of Mutual Funds in
India can be divided in 2 parts Capital Gain & Dividends.

Capital Gain Taxation on Mutual Funds

Capital Gain is appreciation in the value of asset if you buy something for
Rs 1 Lakh & sell it for Rs 1.5 Lakh, you have made a Capital Gain of Rs 50000.
Capital Gains are further divided into short term & long term depending on
their investment horizon.

Short term capital Gain arises if investment is hold for less than 1 year or in
simple words sold before completion of 1 year. Here 1 year means 365 Days.

Long Term Capital Gain arises if investment is sold after 1 year.

Mutual Fund Capital Gain Tax further depends on which type of fund it is
Equity or Debt.

Capital Gain Tax on Equity Mutual Funds

Equity Mutual Funds are those funds where equity holding is more than 65%
of the total portfolio so even balanced funds will be categorized in Equity
Funds. Fund of Funds (mutual funds which invests in other funds) &
international funds (funds which have more than 35% exposure to
international equities) will be kept under debt category for tax purpose.

Long Term Capital gain on Equity Mutual Funds if you buy & hold an equity
Mutual Fund for more than 1 year, there will be NIL Tax. Eg. If you invest Rs 1
lakh in XYZ Fund & after 1 year, its value is Rs 1.3 Lakh there will be zero tax
on capital appreciation of Rs 30000. This is a very big advantage of equity
mutual funds.

Short Term Capital gain on Equity Mutual Funds if you sell equity mutual
fund before completion of 1 year you need to pay tax of 15% on capital gains.
In the above example where gain was Rs 30000 if this was a short term
capital gain, investor would have paid Rs 4500 as short term Capital Gain.

Note for NRIs Same capital gain is applied for NRIs but in case of Short
Term Capital Gain there will be a TDS (tax deducted at source). Which means
Tax will be deducted by Mutual Fund Company before paying redemption
(sell) amount.

Capital Gain Tax on Debt Mutual Funds

All other funds which will not qualify as equity fund, including Fund of Fund
& international Fund will be part of debt mutual funds. Definition of Short
Term & Long Term is same as mentioned in equity category.

Short Term Capital gain on Debt Mutual Funds any short term capital gain
that arises due to selling of debt fund before 1 year will be added to investors
income. Once it is added to income it will be taxed according to tax slab of that
individual.

Long Term Capital gain on Debt Mutual Funds here taxation depends on
whether investor would like to use indexation or not. (To understand more on
indication read this article Taxation on Fixed Maturity Plans.

Without Indexation 10% tax on capital gains

With Indexation 20% tax on capital sains

Note for NRIs NRIs will receive their redemption amount only after tax:

Short Term 30% TDS

Long Term 20% TDS
Cess of 3% will also be applied to this TDS.

Questions regarding capital gain taxation on mutual funds hope this will
help you to understand the concept better:
I know that some short term as well as long term tax need to paid on
redemption of mutual fund, but I dont know where to pay and how much to
pay.

Can you please take following scenario and help me out to calculate tax?
Suppose my salary income is Rs. 8,50,000 per annum, I am in 20% tax slab.
Apart from that only mutual fund income is there.

1. I have purchased Equity mutual fund Rs. 10000 on 20-04-2010 and sold it
on 20-10-2011 and Redemption money is Rs.11000. How much long term
capital tax I need to pay in this year?

Ans. Here Long Term Capital Gain on Equity is applied So NIL tax.

2. I have purchased Equity mutual fund Rs. 10000 on 20-04-2011 and sold it
on 20-10-2011 and Redemption money is Rs.11000. How much short term
capital tax I need to pay in this year?

Ans. Here Short Term Capital Gain on Equity is applied So 15% tax on gains
or Rs 150.

3. I have purchased Debt mutual fund Rs. 10000 on 20-04-2010 and sold it
on 20-10-2011 and Redemption money is Rs.11000. How much long term
capital tax I need to pay in this year?

Ans. Here Long Term Capital Gain on Debt is applied So 10% tax or Rs 100
(I am assuming that Indexation is not used).

4. I have purchased Debt mutual fund Rs. 10000 on 20-04-2011 and sold it
on 20-10-2011 and Redemption money is Rs.11000. How much short term
capital tax I need to pay in this year?

Ans. Here Short Term Capital Gain on Debt is applied so appreciation of Rs

1000 will be added to your income tax & taxed according to your slab.

5. I have purchased hybrid mutual fund(say HDFC Balanced) Rs. 10000

on 20-04-2010 and sold it on 20-10-2011 and Redemption money is Rs.11000.
How much long term capital tax I need to pay in this year?

Ans. As I told you earlier that balanced funds or funds with more than 65% in
equities are qualified as Equity Funds so answer will be same as question 1.

6. I have purchased hybrid mutual fund(say HDFC Balanced) Rs.

10000 on 20-04-2011 and sold it on 20-10-2011 and Redemption money is
Rs.11000. How much short term capital tax I need to pay in this year?

Ans. Same as Question 2

Hope now you have clear idea about capital gains. Lets see second part of
income from mutual fund that is Dividend Income.

Mutual Fund Dividend Taxation

Again this taxation will depend on which type of Mutual Fund you are
investing in Equity or Debt.

There is no dividend distribution tax on equity mutual funds & also the
dividend received by investors is tax free. So, again a bonus for equity mutual
fund investors.

Even in case of Debt Mutual Funds dividends received by investor are tax
free in their hand or they dont need to show it as a taxable income. But there
is dividend distribution tax paid by mutual funds to income tax department.

Dividend Distribution Tax on Debt Mutual Funds

Here there are many tax slabs depending on the investor category but we will
only be talking about Individuals, HUF & NRIs.

This taxation further depends on type of Debt Funds:

Dividend Distribution Tax on Liquid/Money Market Schemes

Liquid/Money Market Schemes means Debt oriented funds which invest in

money market instruments or in securities that have maturity of less than 90
days.

Here 27.038% tax (25% Tax + 5% Surcharge + 3% Cess) will be deducted from
the dividends.

Dividend Distribution Tax on Debt Funds other than Liquid/Money

Market Schemes

Here 13.519% tax (12.5% Tax + 5% Surcharge + 3% Cess) will be deducted

from the dividends.

In equity mutual funds there is not much difference whether you invest in a
growth or dividend option. (Leaving 2-3 special cases) In debt it is very
important that investor should select dividend or growth depending on his
time horizon & tax slab.

14.Study of control system and reporting system

Chapter 6 Business Strategy and Outlook

Social responsibility of firm

Hdfc bank

Social Responsibility
Development in a large country such as ours brings with it various challenges; the foremost is to
translate economic growth to sustainable development. To achieve this, it is critical that growth be
inclusive. At the core of this strategy is our commitment to reach out to marginalised communities
through our Sustainable Livelihood Initiatives and to encourage each business to include social and
environmental consideration as part of their business processes.

HDFC Bank has undertaken several interventions and projects through the year to create a positive
impact on society while doing business. These projects take shape in many ways from corporate
philanthropy, to employee driven projects.

Sustainable Livelihood
HDFC Bank's Sustainable Livelihood Initiative is a business
model that has helped empower thousands of people,
particularly women, in rural parts of India. Through this
initiative, the Bank reaches out to the un-banked and under-
banked segment of the population and in doing so, helps as
many people as possible at the bottom of the pyramid by
providing them with livelihood finance.

It involves a holistic approach - from offering training and

enhancing occupation skills to providing credit counselling,
financial literacy and market linkages - which financially
empowers people and brings them into the banking fold.

Swachh Bharat Swachh Vidyalay

We, at HDFC Bank believe that clean and hygienic

conditions at schools and work places are prerequisites for
the future of a developed and blooming India. Aligning
ourselves with Mahatma Gandhi's dream project of a clean
and filth-free India, we have undertaken several initiatives to
work shape a favourable learning environment in the
schools of rural India.

In line with the Swachh Bharat campaign, one of our primary

focus areas under CSR, is creating conducive environment
for children in schools. In partnership with 8 not-for-profit
organisations across 8 states of Rajasthan, Haryana,
Punjab, Gujarat, Maharashtra, Madhya Pradesh,
Chhattisgarh and Meghalaya, we have covered more than
850 Government schools touching over 1.16 lakhs students.
Our focus is not only in providing sanitation infrastructure
but it also encompasses behavioural change (WASH-Water,
Sanitation and Health). We believe that the family and
school play a key role in shaping a childs life and hence our
WASH programme integrates these stakeholders into
bringing a sustainable behavioural change in school as well
as at community level. Besides, we have also provided
 facilities for potable water as well as improvement in basic
infrastructure in schools.

Changing lives through education

HDFC Bank recognises education as the most significant

intervention in the overall economic and social development
of the society. We aim to reach 'every child in school and
learning' through our initiatives by enabling and ensuring
quality education in the most remote parts of the nation to
the maximum number of beneficiaries. We believe that the
power of education can only be realised with a combined
progress of schools, teachers and students. The Bank also
identifies its responsibility to spread financial literacy and
has undertaken projects to promote the same among the
members of the society. Through our interventions, we have
touched more than 60,000 students and 2 lakh teachers
across 11 states of India.

Enabling all-round growth in children

Through Katha Lab School, we aim to provide holistic education to economically deprived
children from all age groups. From vocational skills training to computer training to also
catering to the needs of the differently-abled children, Katha has undertaken various
measures to ensure an overall development of students' personalities. At present, we are
engaging 400 beneficiaries in the state of Haryana through this initiative.

Shrinking school drop-out rates

We support Navjyoti India Foundation to discourage

students from dropping out of school. The same is done by
offering tutorial assistance to students studying in class four,
the grade post which students are most susceptible to drop-
outs. The initiative has helped contain a number of students
from dropping out in Haryana

Changing lives through training

HDFC Bank aims to increase employability of the rural youth

and women in order to uplift their position in the society and
country. By adopting a plethora of skill development
programmes, we aim to empower and engage myriad
people from rural areas. We have provided training in the
fields of agriculture techniques, livestock management,
communication skills, youth training in IT, nursery farming
and resource management. We have currently been able to
reach out more than 16,000 rural households across 6
states in the country.
 Loksamruddhi

An agriculture based community skill development programme, the project intends on

creating a sustainable future for the community by focussing on natural resources
management and improved agricultural produce. The project activities include cattle care,
breed improvement, better agricultural management skills along with community health.
Working with BAIF Agro India, we have reached out to more than 3400 families across 18
villages in the states of Madhya Pradesh and Maharashtra.

Community initiatives

Communities are the pivot of all our rural initiatives and we

believe that in order to bring a sustainable change,
communities must be economically and socially empowered.
Our rural development programmes focus in the areas of
Financial Literacy and Inclusion, Improvement of Education
and infrastructure, Sustainable Livelihood through skill
development and Natural Resource Management, Water
and Sanitation, Health and Environment and Energy. Our
interventions range from arid regions of Marathwada in
Maharashtra, to rain fed areas of Meghalaya, from desert
lands of Rajasthan to the coastal areas of Tamil Nadu and
currently span over 206 villages across 7 states of
Meghalaya, Assam, Maharashtra, Madhya Pradesh,
Karnataka, Chhattisgarh and Jharkhand.
Natural Resource Management
We have designed our intervention plans based on needs assessment carried out in each
village. We have rejuvenated existing structures like ponds, wells, constructed check-dams,
adopted soil and water treatment measures through net planning. This has led to not only
better agricultural produce but also to an increase in water availability for domestic use and
raise in the ground water table. Additionally, we have improved soil quality in 317hc.of land
and have reduced soil and water erosion. In the process we have ensured active community
participation.

SWOT Analysis Of Mutual

Funds
STRENGTHS

Large number of potential customers are base.

Government support by way of tax concession for MF investors

Volatility of bank interest rate.

Better scope for accessing market information

Offer liquidity to the investors at any time.

Offers variety of products to the investors.

The size of the market is large.

WAEKNESS

Poor participation of retail investors

Lack of focus

Under performance

Poor service conditions

Distribution network is confines only to metro cities

OPPORTUNITIES

Huge untapped market in semi-urban and rural areas.

High level of savings habit among the people.

Liberalized business environment.

Using on-line mode of trading systems.

Investment opportunities abound in the international market.

Failures of non bank financial company operations.

THREATS

Increasing competition among the players.

High level of volatility in the stock market.

Possibility of more stringent regulations by SEBI , RBI , AMFI , etc . in future.

BCG MATRIX

BCG matrix

BCG MATRIX The BCG matrix is a chart that had been created by Bruce
Henderson for the Boston Consulting Group in 1970 to help corporations
with analyzing their business units or product lines. This helps the
company allocate resources and is used as an analytical tool in brand
marketing, product management, strategic management, and portfolio
analysis.
HDFC Mutual Funds

Mutual fund stands at cash cow. This shows that HDFC high market
share and low market growth rate in mutual funds. This means we should
only focus on profitable products and try to investment on those products
which are low market growth rate but perform well if proper investment
is theirs.

Future plans

A Future Value Calculator helps you find the

future value of an investment made today at the
end of its intended duration, and at the expected
interest rate. One of the four different
compounding styles can be selected as
applicable.